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☆ How America's Economy Managed to Avoid Recession, Job Market Disaster
▼ + stars: | 2024-10-27 | by ( Neil Dutta | ) www.businessinsider.com time to read: +9 min

AdvertisementWe're not in a recessionTo determine whether the economy is in recession, it helps to first define the term. Sure, the yearlong payrolls were adjusted down, but the story has largely been the same: This is a cooling but not collapsing labor market. Despite the 50-basis-point interest-rate cut by Chairman Jerome Powell and the rest of the Fed, there's evidence of additional slowing in the labor market. Since the rate cut, I've grown more confident that it will act in the face of weaker employment data. If the labor market deteriorates and the unemployment rate increases, we ought not to rule out another 50-basis-point move.

Persons: We're, —, Jerome Powell, there's, Powell, Stocks Organizations: Federal, National Bureau of Economic Research, Social Security, Conference Locations: America

☆ Russia's defense industry has a massive labor shortage. Rules on what jobs women can do are part of the issue.
▼ + stars: | 2024-10-05 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

Russia's defense industry is short some tens of thousands of skilled laborers. Demographic trends and policies further strain Russia's labor force and defense industry. AdvertisementRussia does have one largely untapped source of labor for the defense industry: women. AdvertisementThe decline in Russia's labor force is forecast to continue until 2040, Massicot wrote. This would make bringing women into defense manufacturing a hard cultural and political pivot, Massicot said on X.

Persons: —, Vladimir Putin, Dara Massicot, Massicot, Putin, El País, Health Mikhail Murashko Organizations: Service, BBC, Carnegie Endowment, International, Workers, American Welding Society, Russian Academy of Science's Institute of Economics, Reuters, Russia's, Health Locations: Ukraine, Russia, BBC Russia, Eurasia, El

☆ From Walmart and Ikea to Heineken, here are the companies whose imports may be most impacted by the port strike
▼ + stars: | 2024-10-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The port workers' strike could disrupt business for big retailers, according to ImportGenius data. Walmart, Ikea and Samsung are some of the biggest importers at ports affected, the data show. JPMorgan predicted the strike could cost the US up to $5 billion daily. AdvertisementMajor retailers are pivoting their shipping plans and preparing for the financial impact of the ongoing port strike. The chart doesn't include data from shipping companies that handle cargo from multiple businesses or anonymous shipments.

Persons: —, Alan Murphy, William George, General Motors, Jess Dankert, Dankert Organizations: Walmart, Ikea, Samsung, JPMorgan, Service, Intelligence, CNBC, Research, Arbor Research, Lading, Customs, Business, General, Home, Retail Industry, Association, International Longshoremen's Locations: Gulf Coast, ImportGenius, West, Maine, Texas

"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.

Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States

☆ Gen Z isn't lazy — it just needs training, HR experts say
▼ + stars: | 2024-08-13 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

We tend to wind ourselves up about differences among boomers, millennials, and Gen Zers — sorry, Gen X, forgot to include you — even though many of the distinctions are made up. AdvertisementIt's easy to point to young workers and say they're no good at their jobs because, of course, they're often not as experienced as those doing the criticizing. "Mentorship will be huge with this generation," Toothacre said. So, some young workers' desire to focus more on their mental health and well-being could rankle some older workers and fuel why-didn't-I-think-of-that resentments. We're seeing less of them prioritize work, especially if they're not treated well," she said.

Persons: —, Zers —, Gen X, they're, Julia Toothacre, Toothacre, Thomas Roulet, Roulet, Jon Veasey, It's, Gallup Organizations: Service, Business, Cambridge University, YouTube, KPMG, Workers

☆ The number of low-wage U.S. workers is dropping—but 23% still make less than $17/hr
▼ + stars: | 2024-07-23 | by ( Gili Malinsky | ) www.cnbc.com time to read: +6 min

"As they continue to annually increase their minimum wages, the number of low-wage workers does go down," says Henderson. Similarly, many states hiked their tipped minimum wages — or did away with a tipped minimum altogether. 53% of tipped wage workers earn less than $17 per hourAll that said, there are still nearly 40 million workers making less than $17 per hour. Nationwide, more than half, 53% of tipped wage workers earn less than $17 per hour, according to the report. A third, 33% of Latin or Hispanic workers and 32% of Black workers earn less than $17 per hour, compared to 21% of white workers, according to the report.

Persons: Kaitlyn Henderson, Henderson, Workers aren't, Judy Conti Organizations: Federal, Health, Education, Labor, Pensions, " Workers, Oxfam, Workers, Institute, National Employment Law, Bureau, National Women's Law, BLS, Agriculture, National Center, Farmworker Health, Census Bureau Locations: New York City, Washington, Maine, Oregon, EPI, Mississippi, Oklahoma, Louisiana, Kentucky, Texas, North Carolina, Mexico, West Virginia

☆ Insider Today: A historic outage
▼ + stars: | 2024-07-21 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Since then:This story is available exclusively to Business Insider subscribers. You can get the latest on what the political turmoil might mean for businesses, the economy, and markets right here or by downloading the Business Insider app. This week's dispatchMaster/Getty, Yevgeniy Sambulov/Getty, Tyler Le/BIA historic outageComputers at Australian retailer Woolworths froze with the blue screen of death. An update gone wrong from a single company many hadn't heard of before Friday morning brought retailers, banks, hospitals, production lines, and airlines to a halt.

Persons: —, It's, Donald Trump, Yevgeniy Sambulov, Tyler Le, Cash, Tesla, Crowdstrike, Jenny Chang, Rodriguez, Slack, de Haro, Gen Z, Rebecca Zisser, Mickey Mouse, Lizzie McGuire, Hannah Montana Organizations: Service, Business, Woolworths, Airline, Microsoft, Getty, Workers, BI Tech, Big Tech, Disney, YouTube Locations: Japan, Alaska

☆ Chinese millennials and Gen Zers have had enough of work, so they're embracing 'naked resignations'
▼ + stars: | 2024-07-06 | by ( Alexandra Bacon | Cheryl Teh | ) www.businessinsider.com time to read: +9 min

Advertisement'Naked resignation'One popular phrase on Chinese social media is "两点一线," which translates to "two points, one line." And discussion is rife on Chinese social media about 裸辞 — a term that translates, quite literally, to "naked resignation." Examples seen in BI's search of the keyword included "how much to save before naked resignation," "three things to consider before naked resignation," and "20 jobs to try after naked resignation." Advertisement"There are articles on Chinese social media criticizing gap years," she said, "arguing that it is a Western concept that does not adapt well to Chinese society." "There's a popular internet buzzword among Chinese young people, "Gai溜子," which can be roughly translated to "drifter" on the street," Lim added.

Persons: —, Jack Porteous, Tong, Porteous, aren't, Laurence Lim, Sally Maier, Yip, Qilai Shen, Lim, It's, Jack Ma, Qu Jing, Jenny Chan, Gen, Gai 溜 Organizations: Service, Business, Tong Global, Twitter, Publishing, Getty, Cherry, Consulting, Pictures, National Bureau of Statistics, Baidu, Hong Kong Polytechnic University Locations: China, Weibo, Xiaohongshu, Europe

☆ No More Work Friends: Personal Relationships on the Job Are Overrated
▼ + stars: | 2024-06-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

We spent weeks planning a "cake party" for our other work friends. The general line is that work friendships are good because social connections at work keep people productive and engaged and help them manage stress. On a fundamental level, work friendships aren't the same as friendship friendships. Advertisement"I think we should try to bring our best professional selves to work, but why should we bring our intimate selves to work?" There's space for moderation, though, or even the chance to shed some work friendships for good.

Persons: Jennifer, Jen, I'm, I've, trickier, It's, who's, There's, Constance Noonan Hadley, William Chopik, Hakan Ozcelik, Ozcelik, Jane, Joe, Emily Stewart Organizations: Business, Institute for Life, Employees, Michigan State University, College of Business Administration, Sacramento State University Locations: Hadley

☆ New college graduates are stepping into a tougher job market. It could set their earnings back for years.
▼ + stars: | 2024-06-15 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +9 min

New college graduates are having a harder time finding work, and as a result, some of them could see their careers and earnings take a hit for years. Meaning that recent college graduates have been more likely to be unemployed than the broader population. This new normal has worked out OK for some Americans, but it's been particularly tough on new college graduates. While the tough job market could temporarily hurt some young graduates' earnings, there's reason to be optimistic that their finances could eventually recover. But if the job market continues to prove frustrating, some of them may begin to wonder.

Persons: Lohanny Santos couldn't, Zer, Santos isn't, overqualified, millennials, Gen Zers aren't, Julia Pollak, ZipRecruiter, it's, — aren't, they'd, —, grads —, Goldman Sachs, Elise Peng, Louis, who's Organizations: Service, Business, New York Fed, NY Fed, Meta, Rice University's, Bloomberg, LinkedIn, National Association of Colleges, Glass Institute, Strada Education Foundation, Federal, Louis Fed

☆ Gen Xers and boomers are giving up on hybrid work: They're either all in or out on the office
▼ + stars: | 2024-06-11 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Related VideoStill, those 50-64 were most likely to work fully remotely, while those 20-29 were least likely. That means they can afford to be fully remote and might feel really comfortable doing things on their own," Barrero said. So that muscle memory might push them to come in more often than younger workers who embrace hybrid." Indeed, many older workers BI has spoken to are divided on whether they want to be in-office or at home — but they're willing to leave roles that don't cater to their preferences. Do you strongly prefer in-office or remote work?

Persons: —, Gen Zers, millennials, Nick Bloom, Alex Finan, Jose Maria Barrero, Instituto Tecnológico Autónomo, Barrero, Dennis C, I'm, Charles Bond, they're, Bond Organizations: Service, Business, Employees, Stanford University, Instituto Tecnológico, Business School

☆ Prop-trading firms and hedge funds like Point72, Balyasny, and Bridgewater are turning to AI for higher returns. Here's what they pay AI workers.
▼ + stars: | 2024-05-30 | by ( Alex Nicoll | Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Read previewFor years, hedge funds and prop-trading firms have relied on massive amounts of data and the workers who analyze it to beat the market. But the promise of generative AI has kicked off a new talent war for AI workers who can level up hedge funds' quantitative strategies with a new generation of transformative technology. This data shows the salaries that hedge funds expect to pay foreign AI workers in 2023, and its disclosure is part of their visa terms. BI also analyzed recent job listings at major hedge fund and prop trading firms to identify what they're paying AI workers. New state laws in places like New York require job listings to include a range of salaries offered for the role, providing further insight into AI workers' salaries.

Persons: —, there's Organizations: Service, Business, Bridgewater Associates, of Foreign Labor Locations: New York

☆ Gen Z to older workers: We're just like you
▼ + stars: | 2024-05-21 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

The study defined Gen Z as those born between 1997 and 2012, but the research involved only Gen Zers already in the workforce, not those still in school. In its interviews, 51% of Gen Zers said salary was the most important part of a job, whereas 47% of older workers said the same. BI recently reported that more than half of Gen Z and millennial workers are living paycheck to paycheck. In the survey, 33% of Gen Z workers told researchers they expect to be promoted to leadership roles at their company, compared with only 19% of older workers. And 44% of Gen Z workers want to be in charge of others versus only 27% of those outside that generation.

Persons: —, Zers aren't, Gen Zers, aren't, Zers, Jon Veasey, Zer, Young, Deters, Gen, Gen Z, We're, Z Organizations: Service, Business, —, KPMG US Locations: Veasey

☆ Help! I work in an open office and my co-workers are so loud
▼ + stars: | 2024-04-18 | by ( Erin Mcgoff | ) www.cnbc.com time to read: +3 min

Dear Work It Out, I work in an office where the same floor is shared by multiple teams that don't work together, but work for the same parent company. There are a few people whose voices carry all the time, and occasionally a group of them will congregate in an open area not far from my desk for what seem like impromptu team meetings or snacks. Since I don't know most of them, it feels like asking them to quiet down would seem like scolding from an unrelated party, but it really disrupts my work. Still, it's important to remember that you are at work to work, and if your environment hinders your productivity, that's something you — and your company — should care about. I've been having a hard time taking client calls when your team talks openly in the office near my desk.

Persons: I've, Jen

☆ A tech company with 30,000 workers is bucking the trend of enforced RTO and letting its employees be completely flexible
▼ + stars: | 2024-04-15 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +3 min

Globant, a software company with nearly 30,000 employees, is letting its workers stay fully remote. AdvertisementWhile many tech companies have enforced workers' return to the office, software company Globant is allowing its nearly 30,000 employees to remain fully remote. Related storiesOther companies haven't been so favorable on remote work and have enforced RTO mandates for at least part of the working week . AdvertisementWhile Dell told employees that if they went fully remote, they would not be considered for promotion. Those who enforce RTO mandates say that it boosts productivity and facilitates collaboration, improving the company's bottom line.

Persons: Bloomberg he's, —, Martin Migoya, Migoya, haven't, Dell, Dan Schawbel, millennials Organizations: Bloomberg, Service, Apple, Meta, Google, Katz Graduate School of Business

☆ Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
▼ + stars: | 2024-04-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Typically, security guards inspect workers' badges at the site, but don't usually scan them directly, the two workers said. Related storiesThree other former Tesla employees said workers at the Fremont factory were told by security that if their badges didn't work they were no longer employed. The email sent directly to laid-off staff said the cuts would be effective immediately and workers would receive information regarding their severance within 48 hours. Tesla workers aren't the first to unceremoniously discover they've been terminated while trying to access their former place of work. Last year, some former Google employees told BI they learned they'd been laid off when they couldn't badge into the office.

Persons: —, Tesla, didn't, Elon Musk, Drew Baglino, Rohan Patel, they've, they'd Organizations: Service, Business, Fremont, BI, Google Locations: Tesla's, Sparks , Nevada, Nevada

☆ Workers aren't going to the office, but they are hitting the bars
▼ + stars: | 2024-04-04 | by ( Jordan Hart | Tim Paradis | ) www.businessinsider.com time to read: +6 min

Read previewZachary Timms, a project engineer in Houston, has rules around how he does happy hour with coworkers. Late-afternoon spending may have slipped in New York, per Square data, but post-work socializing seems to be going strong later in the evening for office workers. Seasoned employees warning younger colleagues about bringing out their "weekend personality" at work happy hour haven't always deterred the newest class. One TikToker shared her excitement for 5:01 p.m. this summer and the start of happy hour with colleagues. Advertisement"Just a quick reminder that you were actually more drunk and annoying at that work happy hour than you remember," TikToker Jack Lawler advised.

Persons: —, Zachary Timms, Timms, Zachary Timms He's, Shadé Smith, I've, Ara, Kharazian, TikToker, TikToker Jack Lawler, Brown, Gen Zers Organizations: Service, Business Locations: Houston, New York, NYC's, Irish

☆ Official Amazon HR document reveals a spike in employees put on PIPs during a time of record layoffs
▼ + stars: | 2024-03-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +10 min

Layoffs vs. terminationsThe spike in PIPs coincided with 27,000 layoffs that Amazon announced between November 2022 and March 2023. "Managers, however, do not engage in performance management work eagerly. "To suggest we use our performance management process to drive any other outcome, such as reducing our employee base, is wrong," Callahan added in a statement. PIPs and quiet firingSome Amazon employees previously told BI that the company had put more people on PIPs as part of what they perceived as the quiet-firing push. Amazon had roughly 400,000 total corporate employees in that period, according to another internal document obtained by BI.

Persons: They're, aren't, Margaret Callahan, Callahan, Erik Gordon, David Ryder, cumulatively, Peter Cappelli, Cappelli, Amazon's, couldn't, Eugene Kim, Peter Capelli Organizations: Amazon, Business, Experience, Technology, BI, University of Michigan, Pivot Employees, University of Pennsylvania, Wharton's Center, Human Resources

☆ Employers are hiring etiquette coaches to teach clueless RTO workers how to behave
▼ + stars: | 2024-03-17 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Workers are having to be coached on how to behave in the office as companies implement RTO policies. More than 60% of bosses said they plan to offer etiquette training by 2024, a survey said. "Etiquette is now like a buzzword," etiquette coach Suzy Lins, the self-proclaimed Manners Maven, told Business Insider. "In our view, office etiquette training is vital, not only for newbies but for everyone on the team," Chappell said. "Certain roles require stronger communication skills," Martin, who works at a pharma company, said about the hiring process.

Persons: —, Suzy Lins, Manners Maven, Mike Chappell, Chappell, Zers, Manners Maven Lins, Lins, they've, they're, Kevon Martin, he's, Martin, it's Organizations: Service, Employees, pharma

☆ American workers are losing confidence in their CEOs
▼ + stars: | 2024-03-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

47% of workers said they felt worried about their job security, according to a 2023 survey conducted by McKinsey & Company. AdvertisementThe job market looks to be cooling off even as the economy looks like it is going strong. New LandscapeFor disgruntled workers, it may help to hear that CEOs also are getting pushed out at the fastest pace in decades. The job market is expected to slow in 2024, he estimated, pointing to the deceleration in hiring activity. AdvertisementTotal full-time workers declined in February, the first decline posted since the pandemic, according to the Bureau of Labor Statistics.

Persons: —, Daniel Zhao, Zhao, Jamie Dimon, Andrew Challenger, Challenger, Zhao doesn't Organizations: Service, Business, Glassdoor, JPMorgan, McKinsey & Company, Challenger, Bureau of Labor Statistics

☆ Biden presses Israel on Gaza aid during State of the Union: 'There is no other path'
▼ + stars: | 2024-03-08 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Read previewDuring his State of the Union address on Thursday, President Joe Biden directly challenged Israel, saying the country had to do more to allow aid to flow into Gaza. "Israel must allow more aid into Gaza and ensure that humanitarian workers aren't caught in the crossfire." "There is no other path that guarantees Palestinians can live with peace and dignity. There is no other path that guarantees peace between Israel and all of its neighbors." The Biden administration has been supportive of a temporary, six-week cease-fire if Hamas agrees to release more Israeli hostages.

Persons: —, Joe Biden, Israel, Biden, aren't, Benjamin Netanyahu, Donald Trump Organizations: Service, Business, Democratic, Progressives Locations: Gaza, Israel

☆ Photos show the US C-130 Super Hercules missions airdropping supplies to war-torn Gaza
▼ + stars: | 2024-03-08 | by ( Lauren Frias | ) www.businessinsider.com time to read: +1 min

'Humanitarian assistance cannot be a secondary consideration or a bargaining chip'A US airman prepares bundles of humanitarian aid destined for an airdrop over Gaza. US Air Force photo"Israel must allow more aid into Gaza and ensure that humanitarian workers aren't caught in the crossfire," Biden said. "To the leadership of Israel, I say this: humanitarian assistance cannot be a secondary consideration or a bargaining chip." There is no other path that guarantees Palestinians can live with peace and dignity. There is no other path that guarantees peace between Israel and all of its Arab neighbors, including Saudi Arabia."

Persons: aren't, Biden, Israel Organizations: US Air Force Locations: Gaza, Israel, Saudi Arabia

☆ Task associates and paralegals are some of the loneliest workers in the country
▼ + stars: | 2024-03-02 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Task associates and paralegals are among the loneliest jobs in the country, a new study shows. Task associates, who stock merchandise in retail stores, reported the highest levels of loneliness, according to a new study from Solitaired. "While that might sound like a job beaming with human interaction with customers, it's not always the case," the study's author, Neal Taparia, told Business Insider. Senior paralegals, in particular, ranked as the second loneliest job, suggesting that the higher up the corporate ladder someone is, the lonelier they might be. And paralegal roles have evolved over the years to include substantive legal work — without the title or pay grade of a full-time lawyer.

Persons: —, it's, Neal Taparia, Taparia, Jasmine Gavigan Organizations: Service

☆ Instead of taking your job, AI might be more like the best intern ever
▼ + stars: | 2024-02-24 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

Many workers have expressed fears that the technology will show up at the office like a young gun coming for their job. Williams expects some of the biggest gains from AI won't center on what companies and workers are doing now. Instead, he sees major wins coming from what workers aren't doing but that AI could. Filling in when help is scarceOne reason jobs sometimes aren't getting done is because there aren't always enough workers. If AI could be deployed to help with this work, the time the task takes might get cut in half, Holding said.

Persons: Heather Holding's, she'd, couldn't, let's, Ron Williams, Williams, that's, Jérôme Pesenti, Pesenti Organizations: AIs, Facebook

☆ Gen Z prefers paychecks over promotions, survey says
▼ + stars: | 2024-02-06 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Advertisement"Since 2021, Gen Z has been living with rates of inflation not seen in the US in decades," the Standard reported. AdvertisementAccess to loans, a strong 401(k) retirement account, and reliable insurance coverage are benefits that Gen Zers expect from employers. Over 90% of Gen Zers and millennials said they're considering leaving their jobs, per a 2023 LinkedIn survey. AdvertisementBy offering intentional tools toward sustained economic stability, The Standard said companies will have better luck recruiting and retaining Gen Z workers. Are you a Gen Z worker and willing to share details about your economic stability goals and how you plan to achieve them?

Persons: —, Zers, Gen Z, Gen Zers, X, millennials Organizations: Service, Business, Bureau of Labor Statistics, Standard Locations: homebuying

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